Banking & Finance

Waukesha State Bank will open a new branch at 18300 W. Capitol Drive in Brookfield, replacing its current office at 19265 W. Capitol Drive.

Reflecting the growing rebound of the U.S. housing market, Milwaukee-based MGIC Investment Corp. today reported its first quarterly profit since 2010.

Northern Trust Corp., the Chicago-based parent company of Northern Trust Bank, reported second quarter net income of $191.1 million, or 78 cents per share, up from $179.6 million, or 73 cents per share, in the same period a year ago.

U.S. Bancorp, the Minneapolis-based parent company of U.S. Bank, reported record net income of $1.5 billion, or 76 cents per share, up from $1.4 billion, or 71 cents per share, in the same period a year ago.

The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, reported second quarter net income of $1.1 billion, or $1.99 per share, up from $546 million, or 98 cents per share, in the same period a year ago.

Waukesha State Bank has renamed its Wealth Management Services division to Prairie Financial Group and named Kristin Reilly president of the division.

Brookfield-based Pinstripe, Inc. has acquired recruitment outsourcing and talent management company Ochre House, headquartered in London in the United Kingdom.

Brown Deer-based Bank Mutual Corp. reported second quarter net income of $2.6 million, or 6 cents per share, up from $1.3 million, or 3 cents per share, in the same quarter a year ago.

Associated Banc-Corp reported second quarter net income of $47 million, or 28 cents per share, up from $42 million, or 24 cents per share, for the same quarter a year ago.

Don Stockhausen has joined HighTower Palm Desert, a financial advisory firm in Palm Desert, Calif. He will travel back and forth and continue to serve his clients in Milwaukee.